Prana Capital Management LP Has $8.56 Million Stock Position in Waste Connections, Inc. (NYSE:WCN)

Prana Capital Management LP grew its position in Waste Connections, Inc. (NYSE:WCN) by 10.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,867 shares of the business services provider’s stock after buying an additional 4,663 shares during the period. Prana Capital Management LP’s holdings in Waste Connections were worth $8,556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Manchester Capital Management LLC acquired a new position in Waste Connections in the 4th quarter worth $26,000. Private Trust Co. NA boosted its stake in Waste Connections by 153.3% in the 4th quarter. Private Trust Co. NA now owns 152 shares of the business services provider’s stock worth $26,000 after purchasing an additional 92 shares during the period. Stonebridge Financial Group LLC acquired a new position in Waste Connections in the 4th quarter worth $27,000. Aster Capital Management DIFC Ltd acquired a new position in Waste Connections in the 4th quarter worth $28,000. Finally, Smartleaf Asset Management LLC boosted its stake in Waste Connections by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider’s stock worth $33,000 after purchasing an additional 71 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Wall Street Analyst Weigh In

WCN has been the subject of a number of research analyst reports. Citigroup upped their target price on shares of Waste Connections from $209.00 to $212.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 29th. Seaport Res Ptn raised shares of Waste Connections to a “strong-buy” rating in a report on Tuesday, May 6th. Scotiabank upped their target price on shares of Waste Connections from $192.00 to $207.00 and gave the company a “sector perform” rating in a report on Tuesday, April 8th. Jefferies Financial Group dropped their target price on shares of Waste Connections from $225.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Finally, William Blair assumed coverage on shares of Waste Connections in a report on Thursday, April 3rd. They issued an “outperform” rating on the stock. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $208.21.

Waste Connections Stock Performance

NYSE:WCN opened at $186.12 on Thursday. The business’s 50-day moving average price is $192.35 and its two-hundred day moving average price is $186.14. Waste Connections, Inc. has a twelve month low of $160.34 and a twelve month high of $201.66. The stock has a market cap of $48.09 billion, a P/E ratio of 77.87, a PEG ratio of 3.07 and a beta of 0.66. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.03.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.06. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. Waste Connections’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the firm posted $1.04 EPS. As a group, equities analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Wednesday, May 7th will be given a $0.315 dividend. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.68%. Waste Connections’s dividend payout ratio is currently 51.85%.

About Waste Connections

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.